0:00

Now on forward, what lies ahead for the

0:02

US economy and what you and yours should be be

0:04

about doing Zack. And I talked about

0:06

shootings this time different and

0:09

we make summer content recommendations, including

0:12

exact experience as a first time this

0:14

week on power

0:38

and we are back to

0:40

talk about the changing world

0:43

order my conversation with perhaps

0:45

the world's greatest investors early on the top

0:47

five or ten list ray dalia what the heck

0:50

this book actually means wow

0:53

did wow did interviewing read all

0:55

yo to be edifying and fascinating and

0:57

for those of you who missed it you can check that out or

1:00

can check out the you tube video or

1:02

that summarizes his new book principles for

1:04

dealing with the junior world order or if you're

1:06

like me and want in hell affords dirty page

1:08

book you can buy raise book but

1:10

i came away from this

1:12

interview with like my my worldview

1:14

haven't changed or it we're time of this before

1:17

start recording that if you're a billionaire

1:20

like a very successful well known billionaire

1:24

there's no real point in writing book

1:26

the money or status proceed

1:29

situations the ellery these writing it

1:31

is because you've got somerset that

1:33

i could be at a guy like that the

1:35

wise by with him in

1:37

our and given what oh i've taken

1:39

away from the book in podcast

1:42

the happy are fairly well yeah looks crazy

1:44

felt like a real life or go to check it

1:46

out found the world's biggest hedge fund

1:48

the of the now has over two hundred

1:51

billion under management mean that's literally

1:53

like nation states dale stuff personally

1:56

were twenty plus billion

1:58

dollars and they

2:00

did all this without frankly any notoriety

2:03

you know like he he does

2:05

not need the spotlight her point them

2:07

and he talks several times in his book about

2:09

how like a some people going like this but

2:11

you know i i think it's a boy to share a

2:14

, he knows frankly how a

2:17

polarizing everything is more than and

2:19

more than rest of it but his points

2:21

his big points where that there are three mega

2:24

cycles that the

2:26

us is going through our

2:29

and unfortunately all three

2:31

of them bodes ill for

2:33

are relatively near future

2:35

or any talks about this as world class investor

2:38

who's like look sometimes time horizon

2:40

is longer than your lifetime but

2:42

the things can happen in your lifetime see have to understand

2:44

them and he talks

2:47

about how are we in his career the

2:49

us dollar got devalued when they left gold

2:51

standard i'm like okay that new said new

2:53

said in the early seventies and he's very

2:55

very concerned there were doing it again that

2:57

we're going through a massive devaluation

3:00

what's interesting is listening to him talk

3:02

i heard many

3:04

many crypto enthusiasts talking as

3:06

well into their lot of folks who are in the crypto

3:08

are like a they're debating the dive in bathing

3:10

dollar man and one

3:13

of the things that ray talks

3:15

about is that since seventeen

3:17

hundred seventy five percent

3:19

of the currency that were in effect a

3:21

over that time had ceased exist that

3:24

a typically a currency go through this brand arc

3:27

and then eventually the currency either

3:29

stops existing because it it doesn't

3:31

work anymore or it's been

3:34

really devalued so he said the twenty five

3:36

percent the currency that still in effect of and greatly devalued

3:38

but three at a for them to don't exist anymore that

3:42

terrifying and into talks about the the six

3:44

per cycle of i like the mega

3:46

credit cycle it takes fifteen seventy five years and

3:49

in one the things that when was running for president has reminded

3:51

me of is that back and sumerian

3:53

times have you

3:55

know this the word

3:57

jubilee jubilation julia

4:00

so that originated in this was a meme

4:02

oh i'm celebration what will that originated

4:05

as a giant debt forgiveness festival

4:08

that happened in like ancient times

4:11

where the cycle of thing that happened was that

4:13

people

4:14

started borrowing money and

4:16

annoying money and then they bar too much

4:18

money and then they showed up

4:21

to the king and started writing being

4:23

like hey we owe too much money and

4:25

of and king would come out and say i

4:27

forgive all the debts and they would

4:29

have giant party that's what the jubilee

4:31

was it is

4:33

a good idea that goes back ancient

4:35

times where the the cycle

4:38

is that a currency starts out as

4:40

a hard currency were

4:42

back in day it might have been gold

4:44

and might have been no pieces of

4:46

food mean like a different things and

4:48

then eventually you end up with notes that

4:50

are against the gold

4:52

because goals inconvenient actually trade

4:54

and coins or not and then eventually becomes

4:56

be a currency which is where we

4:59

two when switch off gold standard where

5:01

the government has the ability to printed then

5:04

when have the billy to printed you always print too

5:06

much and then it starts getting

5:08

the beast and so you're small country and

5:10

against the base and sometimes things fall out of control

5:12

and you wind up having to reset

5:14

which is the last part of the cycle you have runs

5:16

on banks and then the government has to

5:18

like okay okay you know this currency that losing

5:20

value that not anymore

5:24

we , going back to a hard currency

5:26

old sand and you can trust it because it's i'm

5:28

were backing it up with something real there was

5:30

like okay okay so that

5:33

the issue with the us right now is

5:35

that no one knows where this particular

5:37

cycle ends because you

5:39

can't leave the dollar and so this is

5:41

one the arguments you make this book at also blew my

5:43

mind was like look he goes to the world

5:45

currencies and is like know

5:48

that you like too small and weak

5:51

the renminbi like the

5:53

you know china has these weird currency controls

5:55

the yeah like no one cares like that

5:57

but like there is no other global

5:59

with the herbie candidate

6:02

that makes any sense and

6:04

so the us is like well what gonna do like

6:06

gotta use dollar can write no place else to go

6:08

at in this in a way to me was the

6:11

the genesis crypto where

6:13

people are casting about for an alternative

6:15

to the dollar and then you know when

6:17

up with bitcoin would starts out as essentially

6:20

digital version of gold the other big alternative

6:22

is gold itself an hour which

6:24

ray own the least some

6:26

gold so that certainly made me think like

6:28

ha listening to talk i was like

6:31

shit and like like old actually has

6:33

like a more appealing taste based on conversation

6:37

so one the issues with crypto unfortunately is that

6:40

the it's not clear whether it is truly

6:43

hedging against currency risk because

6:46

it seems right now to correlate more with

6:48

certain other assets frankly that

6:50

that it as an area like risky assets

6:53

and does like basket currencies

6:55

soda the multi

6:57

trillion dollar question is what happens

7:01

when you have a

7:03

u s dollars lowers or currency that

7:06

is being overproduced shall

7:08

say like know that we're hunting a lot of it i'm

7:11

and but don't have any place to go

7:13

so the argument that remakes is that

7:16

the capital will find a place to go

7:18

that like it's not obvious that there's

7:20

another currency but that you

7:22

will it will leave

7:24

the dollar if people says

7:26

the dollars losing value what happens

7:29

you am on monetary theory or

7:31

that read up on a campaign where the

7:33

law federal government us government is strong

7:37

that paid his debt and we can pretty much not

7:40

real ah are you gonna how

7:43

much do we want a wave of them

7:46

have gotten blatantly oversimplifying monitor

7:48

monetary theory by your thoughts on that now

7:50

and is that no longer the case

7:52

or wrong i was

7:54

that so raise cases

7:57

that you're looking at historical

7:59

examples over over again ah

8:01

end they always end

8:03

up playing out

8:05

similarly right arm which

8:07

would frankly

8:10

contradict modern monetary theory

8:13

if , monetary theory does hold

8:16

then you know where in a whole new era

8:18

of but he makes very very convincing historical

8:21

case that we've seen this movie

8:23

before before that there were

8:25

two major global reserve currency

8:27

is before us the

8:30

how and when the uk owned

8:32

corporations and the world and was running around outside

8:35

, or which pre preceded

8:38

are the media the and in before this

8:40

that that i didn't know this but apparently the dutch

8:42

gilder was the will reserve currency

8:44

for while when like the dutch traders

8:46

ran everything got it so

8:49

hit his argument his that know whether that

8:51

we're we're going to we're through so and that

8:53

these their as their plays out frankly are

8:56

very frankly are and dark but

8:58

this does go back to the

9:00

central political question of the time which is what

9:02

the heck you do about inflation joe

9:04

biden recently announced his plan to combat

9:06

inflation in an op ed hours that

9:09

we pay and honestly bit

9:11

, he ,

9:13

in some ways the

9:15

responsibility on the other actors which and away

9:18

his toy legitimate because them there may be real

9:20

limits to what a hindu but i did

9:22

not exactly the plan people on here were not

9:24

like you know i you you want having

9:27

that a person can actually execute on so

9:30

the to other major players in this scenario

9:32

our congress and the fed van and

9:34

van and may have more

9:37

power over what happens in

9:39

terms of inflation than anything biden

9:41

can do no no wants to necessarily hear

9:43

that so funny how we

9:46

get difference between when he ran for mayor

9:48

we ran for president how

9:50

many people care about the president and they're so

9:53

passion identify with the president

9:55

as a role and a

9:57

running joke blame obama are blame however you want

10:00

her various problems for the reality is we live

10:02

it it's and scenery now the president has

10:05

we you ever the poll the reality of they're pretty

10:07

subjective

10:08

macro economic forces our economy in general

10:10

but congress can or can't or won't do

10:13

it what your outlook on up those

10:15

inflation our economy in general where we're heading

10:17

i'm assuming we're heading towards recession for guess in

10:20

it right now how ,

10:22

figure it sounds like you're saying this gets worse

10:24

for get better how worse how much worse

10:26

does get i've no spoken

10:28

to to number a leading

10:32

investors are so damn rubenstein

10:34

was on the podcast and you

10:37

know raise obviously and in this category

10:40

and i've talked to some other figures who maybe aren't

10:42

quite as prominent are famous the

10:44

the theme they keep pointing out his

10:47

look you're have to raise interest rates in order

10:49

for the and place

10:51

in their come down at all and if

10:53

you do raise interest or judge better have been

10:55

anomalous a low for an extended period of time

10:58

in way that's essentially unique in

11:00

in modern history if

11:03

you raise interest rates significantly

11:06

the current stock market valuation do not make any

11:08

sense because they're getting discounted forward

11:10

with like very very low high

11:13

value money so you jack up time i

11:15

your money than lot of tech

11:18

companies companies and don't make sense a lot lot

11:20

of grow companies irish and ah makes sense so

11:22

you wind up with the stock market correction

11:25

very very significant nature and

11:28

, you wind up with a recession of

11:30

some kind and i do not

11:32

see any way out of this i think

11:34

we're going to end up with a very significant recession

11:37

and adjustments available googly didn't call

11:51

we are getting the world reset our government

11:56

has his own self always i was that lot of clothes

11:58

and all right now there

12:00

are no

12:04

hi i'm john meacham join

12:06

, and see thirteen originals for our

12:08

new podcast reflections

12:10

history as we look back on key

12:12

moments from our past and reflect on

12:14

a new piece of history each day of the

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12:21

germany to an event on it's anniversary

12:24

offering a glimpse into the past and

12:26

guide for the for will reflect

12:28

on impactful moments listen

12:30

with me jon meacham to reflections

12:33

meacham this podcast creation

12:35

of signing cydia see thirteen

12:38

originals and jon meacham stimulus

12:40

available for free now forever

12:43

you listen to your podcast

12:48

the from

12:50

my perspective one of studying my

12:53

limited amount study from

12:55

learning on all three that those guys

12:57

like the warren buffett and or a dahlias the world they

13:00

don't seem that their timing is sometimes

13:02

wrong that overtime

13:04

there these are what i've seen

13:06

their never really wrong there's

13:08

always there's some green that you

13:10

like things are changing is different don't understand

13:13

amazon and you can value at x y z

13:15

and then eventually it all comes back down to earth

13:17

and and you're a deli the the world like at older so guess

13:19

my real question is i don't think i got

13:21

an answer for me i like modern monetary theory or

13:23

like radar leo's right if look at these two

13:25

camps like our i'm assuming you're on side

13:27

of raised probably right and the currencies

13:30

are we have have i pretty

13:32

soon i will say that ray made a very

13:34

very compelling case

13:36

based upon pick it up

13:38

be based upon not

13:40

decades but centuries of his yeah

13:42

i felt like i go way back

13:44

and so imagine this to imagine that you ran

13:46

out hundred billion are hedge fund you

13:48

literally has an army of researchers

13:51

who can pull off just about anything

13:54

so this book is literally like four

13:56

hundred you know them though

13:58

twenty pages or something the wind didn't

14:01

read all your sit there and right for know the pages

14:03

of course not like it it's filled with data

14:06

sets and table and saying because

14:08

he has like a like army of people being

14:10

like hey i'm gonna pull off and gonna report here

14:12

in alberta pull up a report on the dutch gilder

14:14

whatever you know it like relates to gold

14:17

shot of minnesota so that there's

14:19

so much data in here that

14:21

if you respect data at all you look

14:23

at this near like a while it like it's essentially

14:26

and argue of offer offer up and a lot about like

14:28

like if if you know that you know if

14:30

i mean it's like a four hundred fifty page argument

14:33

that documented back hundreds of years so it's so

14:35

it's hard to look at his and be like yeah that disguise

14:38

you know somehow barking

14:40

at the way it it didn't

14:42

it it had computer if things

14:44

are things

14:45

theoretically anybody can invest the stock market right

14:48

you nice act joe schmuck can buy the

14:51

or by thing and try and play game and smart

14:53

investor what the

14:55

different cities into the empty inherent

14:57

advantage is that these institutional messrs have

15:00

we get the average investor the average person can't

15:02

wrap their mind around and what mean that

15:04

like member like doctor

15:06

research analysts all time for example

15:08

i think it was apollo up or missouri blackrock

15:11

or one of big product reshapes they

15:13

are like blackstone onto our and airline

15:17

the reason people they they know where the market's going

15:19

in this area thing we know where the market is

15:21

right now we know how many sandwiches

15:23

subway sold yesterday like we

15:25

know this real time data of what's

15:27

going on we know how many packages of act that amazon

15:29

has sold over it is and as data that the

15:32

average human doesn't have a don't have the manpower

15:34

to actually like sift through so

15:37

usually these like real like these investors

15:39

as did it as a time and their look at the numbers

15:41

they're usually the retro accurate

15:44

though one of the things the things out just the

15:47

last several days that

15:49

that

15:50

you on musk said there's something very very

15:52

bad during the economy jamie

15:54

diamond says that there is hurricane come you should brace

15:57

yourself and it's or no inside hurricane is ah

15:59

nn joe biden got asked about

16:01

this and then the said well

16:05

, hiring fourth

16:07

hiring you know economies

16:09

strong home is good fundamentals are get a

16:11

etc and one the major problems

16:14

we have an american like today that everyone

16:16

is talk up their case it like

16:18

because there's so many people right now that

16:21

are in the administration or around

16:23

the administration who are essentially

16:25

making like bullish case for various

16:27

things you could point to various measurements say all

16:29

job growth up like you know that they're different things

16:31

are happening mean right now as

16:34

say like seventy plan americans are not pleased with

16:36

direction because frankly did look at price a

16:38

gas on another level that you're like

16:40

us i needed a life and it's tough and

16:42

but you have different people whose interest and the

16:44

thing is like if like you know

16:46

i like i were joe biden like you do

16:48

have to make positive or circulated you know

16:50

and and the rest of it so that that that's one

16:52

of like the the struggles

16:54

of i get you like we've essentially politicize

16:56

what's going on in the economy and

16:59

derek thompson when i interviewed

17:01

him tied about how like your perception of the economy's

17:04

actually very much partisan yep

17:06

partisan just depends on how you feel about who's in

17:08

office so the people who don't like your

17:11

by the democrats think economy super terrible

17:13

none and and in owed a john doe council

17:15

talk about how there's some

17:17

bright spots i'm so one the reasons why

17:19

i want talk about this about this for the folks

17:21

who listen to me i like andrew yang

17:23

thinks that there some very very very

17:25

ominous dark clouds and weaknesses

17:28

coming on scale that

17:30

we not seen in quite some time and so

17:33

please do act accordingly like you know like

17:35

if you they have

17:37

assets out there that you

17:39

know you feel like frankly

17:41

are kind of at risk or

17:43

thing that you might want you might need

17:46

over like that you know some a

17:48

, of of weeks or months like i

17:50

personally would say you know you might wanna

17:52

like bring those assets in the

17:54

do something years it'll something years

17:57

i i i think that if you hear a dolly

17:59

o and amy i'm in any

18:02

, i'll say something like me it's like and

18:04

by the way like my intuition also very much heading

18:06

that direction me that

18:08

and this isn't part of things is just like is think this

18:10

is think she's going nasty and the i'd really

18:12

darkness

18:14

the spirit of more positive news ray

18:16

also talks about his book essentially

18:18

a thirty percent chance of civil war or

18:20

civil unrest in united the of a workout

18:23

no war yeah they'd

18:25

thick the only problem is

18:27

that stage five of six

18:29

and was it tied to the economy

18:31

or just simply because polarization

18:33

and this changing world order so just

18:35

like with mega credit cycle

18:37

that has six stages apparently

18:40

there's an , ordered

18:42

disorder cycle that has six stages

18:45

and it's tied to public

18:47

use of resources so there's

18:49

a pre peace and prosperity phases days three

18:51

and and stage for involves excess

18:54

debt and unproductive use resources

18:57

stage five which we're right now is called the

18:59

decline where you have internal

19:01

conflict and debt problems

19:04

and then stage six is a

19:06

civil war cause unrest

19:09

and during my interview with him

19:11

i said humans like a raise and you're both

19:13

thirty percent chance yeah staggeringly high

19:15

and he's guy with higher now not gonna because

19:17

he wrote this probably you know twelve

19:20

eighteen months ago and did this is also

19:22

a mega cycle that take flight you know a

19:24

number of decades he talked

19:26

about what you would need to counteract it

19:28

said that are two types of outcomes

19:31

the more likely outcome is natty

19:34

populist type strongman

19:37

figure and then and then

19:39

cases what he called the strong peacemaker

19:41

but when he looked throughout history he found

19:44

very few examples the strong peacemaker more

19:46

nasty packers to that is you're more likely

19:48

to wind up the nasty populist and he

19:50

made this very dramatic argument

19:53

that i thought was incredibly important which

19:55

is that we need to reform capitalism because it's not

19:57

working for bottom sixty percent americans nice

19:59

and as quickly when was running for president as ago

20:01

my ass like dollars on board

20:03

with humming dramatic which he is and

20:06

he recommends that you have essentially

20:08

have bipartisan manhattan project trying fix

20:11

the problem is that works for the

20:13

bottom sixty percent of americans

20:16

are and he thought he was an open question whether

20:18

question whether to get there that somehow the two

20:20

parties get there the together and start

20:23

clarity inducing bipartisan which we

20:25

all know is highly unlikely young talk about that

20:27

over that there's a political realignment

20:29

which is what the board party and i

20:31

are trying make happened right but at this is the

20:33

the other the second of the the

20:35

to mega cycles would also said

20:37

something very very that's mistake

20:40

and the his diagnosis

20:42

of it was very familiar anyone who's watching

20:44

where he's like polarization record highs

20:47

are just institutional record lows

20:49

they you know like everything it's politicized

20:51

people don't know the truth is cetera et cetera so

20:54

great challenges in terms the internal

20:56

ordered disorder cycle man and

20:58

in third mega cycle is the right in

21:01

and rivalry of different great powers and

21:03

so in his view the us

21:05

is relative decline in china is

21:07

ascending ah and that is going to

21:09

be increased friction we know to power

21:12

this looks a bit terrifying andrew de

21:14

riscal your assets by a bunker

21:18

are you so you know they are just as bring him in

21:20

bring in for about latest and over

21:23

and guard or just you know the i'll prepare

21:25

for some some to not not great things

21:27

which a know if you listen me i mean in our like every

21:29

been same shit like this to

21:31

i mean i've been on this page you know

21:33

i'm still optimistic and can

21:35

do which you i want people

21:37

to be but of

21:39

have clear eyed view in the they get there

21:41

are times when

21:43

you know you you want to take risk than time

21:45

when you wanna take bit ludhiana skin i'd say

21:47

this is probably going be one of the ladder

21:57

one of these

21:59

other guy

22:00

you are frustrated and i'm personally frustrating we

22:02

see all this stuff happening like the all declining

22:04

saga on this and then you feel like can't do

22:06

anything that by good with segue into

22:09

a lot of us on his shooting that are happening

22:11

we have met at chance talk on the podcast

22:13

yet for it driver

22:15

ages but ah the most recent ones

22:18

tragic shooting buffalo and then and

22:20

even worse one at our elementary school

22:23

in texas which seems awful

22:25

and now it seems since then we'd have

22:27

another shooting every day or

22:29

, per day you by breaking

22:32

this down the answer

22:34

this question andrew like

22:37

a real answer games or yang answer not like

22:39

our because congress polarize of exit

22:41

break it alec we all are generally

22:43

agreed this is terrible the

22:46

did nothing ever gets done where we don't

22:48

change it and like they'll be like if the out our eyes

22:50

republicans special interest is it but like

22:53

get down for me

22:54

the or i i i do think the political incentives

22:56

are very clear and yeah very stark where

22:59

there is a republican member of congress represented

23:01

the buffalo buffalo now strict and

23:05

he came out against mistake of

23:07

critique mistake the came out against us all weapons

23:09

which by the way frankly of you

23:11

will get killed by the hour been in your district

23:13

i would thirty rational movies at her

23:15

like getting over human dan

23:19

and then took so much heaton

23:21

abuse and

23:23

outrage that said hey i'm not running

23:26

for congress which she was planning

23:28

to do though do you think

23:30

other republican members of congress

23:32

ah that of course they know that

23:34

were like well i guess as an app and again

23:36

this person represented duck community directly

23:39

yes so if if you represent another

23:41

district and you raise your

23:43

hand your hand hey i also think that we should look

23:45

at the any certain

23:47

types of weapons that right our legal

23:49

what it is that have new probably with same or worse

23:52

as happen a congressman jake

23:54

and he was essentially told like a you go

23:56

mad against us were going to outline you

23:58

from the right way to run against you on that bomb

24:00

that your we got guns then

24:02

he said i'm he said number think probably but they

24:04

were like they're going to be held hands name to dollars

24:06

pumped into my community talking about why

24:09

we need a are fifteens or whatever thought weapons

24:13

or whatever the heck i'm arguing against

24:16

i had a divisive awful now the community need

24:18

someone to resign is that i mean that's that's a that's

24:20

he said death know i got call

24:22

from someone who works

24:26

in

24:27

los angeles they said that they were getting

24:29

calls as to what they could do to help

24:31

and they said the single biggest movie

24:33

you could make that might help make

24:35

congress responsive to this or

24:37

anything else would be shift open primary because

24:40

if you have close party primary like congressman

24:42

jacobs go through and then he looked at

24:44

it says hey i'm not going lose or this going

24:46

to terrible there's no way in which this

24:48

primary does not become terrible so i

24:50

am going resign if you had

24:53

it so that everyone in his district

24:56

votes on his reelection what

24:58

percentage of people in buffalo rain our open or

25:00

to move i got in on going suggest lot

25:02

more than yeah it's probably pretty high it certainly

25:04

much higher than the proportion of the republican

25:06

primary electorate in buffalo are

25:09

and so that this person who called me made

25:11

the case which i agree with is that look

25:14

if there's one thing you wanna change

25:16

it's the primary you are the party primary

25:19

system yes or and so this person

25:21

then is directing resources to

25:23

try and shift open primaries so

25:25

that look at the guts actually the answer

25:27

and by the way what i'm saying right now doesn't

25:29

apply just this issued applies to just

25:31

about any very very fraught

25:34

or divisive issue

25:37

, the country where you're going to have some

25:39

people were very very passionate on one end

25:41

or the other end and most

25:43

people will look at and say hey there probably

25:45

is unreasonable middle ground and most

25:47

of us would like to land on land but

25:50

we're never gonna get there because

25:53

get there people lose their job if they compromise

25:55

and there is no compromise i like

25:57

that this is the fundamental arguing that afford party

25:59

which is low politicians will do

26:01

whatever their incentives are and

26:03

so if they're incentives are to stay in their corner and

26:05

say hey not near i'm not going to do anything because

26:07

of do something i lose my job like

26:09

this congressmen did then

26:11

guess what did did new meaning fred and so

26:13

like a all of the frustration

26:16

pass in anger sadness should

26:19

be directed towards shifting open primaries

26:21

because the if there's no change

26:23

in incentives that there's no reason why we're

26:26

going see different responses

26:28

now that we saw after any other of

26:30

number of episodes thrown out you have

26:33

democrats can get bill through but the senate can't

26:35

because they need fifty get the innocent

26:37

with call her as as a time vote but you need sixty

26:40

senators the get it

26:42

to get something to vote through the televise felt

26:44

as are so that your as you're either not and there there

26:47

are republican centers are

26:49

on board with this a bit to they're trying to find

26:51

something to compromise on

26:54

president biden has suggested banning

26:56

assault weapons raising age twenty one

26:58

background checks stored laws red flag

27:00

was hauling manufacturers accountable

27:02

it is probably the puppets one actually execute and

27:04

then the mental health crisis actually me action

27:07

at me that that doesn't ask you to that so dynamic

27:10

but let's say we could

27:13

the law that would work here what

27:15

woodwork i'm curious rep on the actual policies

27:19

i think raising islam makes a rather sense yep

27:21

i think that eighteen year old brains are

27:23

at particular moment and

27:27

it's different than twenty one year olds brains and

27:30

by way what are what is

27:32

like one consists in fact parents concerned

27:35

about school shooters i

27:37

like a entitled they want and

27:39

so it is someone who is literally

27:42

a junior senior in high school in a

27:44

more prone to go that school obviously

27:47

ah and so that so that like something

27:49

one of the things i'm discouraged by is apparently

27:51

what strikes me as very reasonable

27:53

moved step three years for

27:56

owning an automatic weapon it seems

27:58

like republicans don't like that the night

28:00

even though that move strikes me as like

28:02

right in the heart of okay would actually make difference

28:05

this is clear example of where if you had rational

28:07

political system where

28:10

people could come together and say look we

28:12

can agree on some commonsense measures on that lets

28:14

land here and draw this line and in a people

28:16

look at that say okay might like that

28:19

that that's reasonable that's how system

28:21

have the and and the question

28:23

now is my can you get ten

28:25

republican senators to agree on and

28:28

we're going to find out

28:30

these are grown up like these debates

28:32

on polarizing issue you see really interesting

28:34

debate and policy and hubble work

28:36

and like we got do not paid fact that one

28:38

one the major things now that people i dislike

28:41

it doesn't fucking matter doesn't hang on things going

28:43

pay that that the dub when debating what

28:45

were the best effect development is what is the argument

28:47

i'm making to is like that people are waking

28:49

up

28:50

to the fact that this system totally dysfunctional

28:53

and our agreement or disagreements

28:56

are increasingly irrelevant in the face

28:58

of what we're seeing a

29:00

end until so this is bioware

29:02

things going to buy the democrats the as in in november

29:04

which i guess everyone knows when there is a

29:07

failure something and so that the one that

29:09

ah in or the top

29:11

mind until very recently was

29:14

women's , rights or the way being around

29:17

and , said to me that like

29:20

you did not see this firestorm

29:22

of protest among

29:25

certain group certain communities

29:27

frankly i got lot of suburban

29:30

women were the democrats

29:32

would look up and say okay it's go time

29:34

like that let's go fight for

29:37

women's reproductive rights and they

29:39

did not see a judge an influx donation

29:41

they not see an influx of

29:44

supporter activism i talked to some people

29:46

who were within this community and they're they're

29:48

just ticked off at the democrats

29:51

for mismanaging this

29:53

botching a getting played a

29:55

etc and so when these things are happening

29:57

with democrat sorry their hands and say it's kind of fiber

29:59

this not like more more people are just being like

30:02

you can't do it the system is broken

30:04

there's nothing that can be done which by

30:06

the way as a case that have been making a via

30:08

the forward party or a while but

30:10

that like that this is materializing

30:13

in front of us and i'm going to costs we say

30:16

that fact that people are waking up the realities

30:18

of are dysfunctional political system

30:21

may be a good thing

30:23

that there's overlap

30:24

the yeah that that like a

30:27

in one of arguments are making to was like look you're

30:29

being played you're being manipulated has like fourteen

30:31

billion dollars when into a

30:33

both parties over the last

30:35

cycle a socially pisses off

30:37

at each other and like you know it by the way you

30:39

know how much get spending opposition as i say all

30:41

fourteen billion was like almost seven billion

30:44

one signs of going on the other so you

30:46

have these waves of resources and

30:48

where does it go totally nowhere and

30:51

, then when someone gets up says

30:53

okay like this stuff going

30:55

poorly like you know we need more more

30:57

more people are like know like

30:59

that like this stuff now working system

31:02

is that going to result in anything positive and

31:05

that's savvy so the argument

31:07

i'm making you look of your fourteen billion being from within

31:09

the system of leading us nowhere good how

31:11

much should actually be spent actually reforming the system

31:13

him if you to put a dollar figure on it and i'm

31:15

going to suggest that numbers in the billions and

31:18

so it if you have to you like the

31:20

equivalent of multi billion dollar and also

31:22

giant popular movement towards trying reform

31:25

the system that's actually the answer

31:27

to our a lot of the problems on describing i know

31:29

whether it's poverty and inflation

31:32

whether it's guns whether

31:34

it's social issues

31:36

me up new you name it because most

31:38

of us actually are willing to

31:40

look at it and be like okay look i'm i'm

31:42

like i'm on one side you're the other side like led led

31:44

scrub my the something that we can all be

31:46

a little unhappy with and and go from there but

31:48

that's not what this is

32:00

that both are aligning word i'm i'm a big

32:02

believer that elections about macro issues in

32:04

using my go issues unless you're my groceries

32:06

really really bad content footwear becomes

32:08

a macro issue like if you're seeing

32:10

the world crumbling if you will

32:13

the country crumbling and just straight

32:15

up no action then

32:18

you begin to day was probably it it's becomes

32:20

a little more obvious to the casual observer

32:23

that it the system probably added

32:25

probably good for the forward party and what

32:28

that data ingenuous or show reform yes

32:30

and no bigger it's that one of the things i'll about

32:32

the for party that oh there's theoretically will be

32:34

someone multiple someone

32:37

to would you kind of what you did the presidential

32:39

was like raise your hand like hey is actually the

32:41

system that busted here in it's like what you to

32:43

time out like stupid

32:45

on both sides it actually doesn't matter and you're

32:47

right as getting truth users will scale

32:49

here because you're right and overtime

32:51

like the soul that is already

32:53

penny i will continue to pan out because we have

32:55

school shooting everybody pissed off

32:57

and heartbroken ember and just angry

33:00

and nothing is done he saw with george boyd

33:02

star of wade said school shooting receive

33:04

climate change where see with wallstreet me crept

33:06

into does neighbors see as pay

33:09

no goes jail like you get analyst people

33:11

angry about something other happened eventually

33:14

i think they'll get fed up i think two things out

33:16

and you either get that

33:18

up where you get it or you ignore it will a level

33:20

one the things that say as get people who take

33:22

a step back and check out on the stuff like i

33:24

totally get it and union was like why would you willingly

33:27

allow yourself to be upset the time

33:31

i spent time with the

33:33

family or immoral day weekend in the

33:36

house why for in two different hands one was like

33:38

radicalize one

33:40

side of his ignores they had my share

33:42

ugly but i once i were that the on other party

33:44

with you on this what i'm passion i got really really

33:46

passionate and then the other side as

33:48

gave husband was the

33:50

down get any time they

33:53

probably like walk either i'm not i'm politics and

33:55

adds to me was like american a nutshell

33:57

and away like we've either become really really

33:59

angry something and we've tried to help

34:01

orders i f this i'm

34:03

gonna go down my own and my own thing

34:05

and i care about it and the

34:08

argue about thirty are somewhat

34:10

equally destructive in a way where oh what

34:12

want to learn arguments i made months ago

34:15

which still believe is that we are

34:17

slumping towards autocracy

34:20

tweet that one i

34:23

love being tell me we met at all in

34:25

all it's it's just that oh we're trending

34:27

towards authoritarianism and

34:29

then when someone tries to be like hey

34:31

no hey no and finally these are the

34:33

eminem billion whatever you like they got

34:35

that

34:36

that's the general direction manning

34:39

what we have does learning we running for president

34:41

were trump

34:43

was such a good example this but it was you would you

34:45

call the posts informational america where

34:47

obama ran on hope and change people are so

34:49

passionate so i'd idealistic what we can

34:51

do and then good

34:54

idea what could in his busted system and

34:58

the point where like to platitudes are just worthless like

35:00

you could say we're going to of

35:03

iron who did vote for obama yeah

35:05

when i see him shelf my netflix queue

35:07

i'm like actively discouraged whatever yeah

35:09

i'm just like the this is where we are now

35:12

like you mean him as a hollywood producer or

35:14

yeah so you just shows up in like know is

35:17

is like a the mythical

35:19

figure at this point the my of it you know

35:21

he is young and this is it may be

35:23

my biggest beef with obama as

35:25

why that like it he truly was

35:27

president as cultural figure ah

35:29

and he's still a cultural figure

35:32

but i'm not sure that's what we

35:34

need right now you know and mean like

35:38

a , at me via about legally do like we

35:40

don't need good content is what i'm

35:42

saying is i will net and think it like will

35:44

will is it but you know i mean

35:47

like you know like i really did really

35:50

american factory like liked you know

35:52

a little late but know

35:54

a like you know that that that's it will

35:56

not set free this way mean you're like me

35:58

know the other that's done this

36:00

is treating overrun

36:02

with the cash

36:04

and in various ways and then the cash

36:07

the is made by and flaming us

36:09

and and flaming various

36:11

directions and so being

36:13

practical sore and i'm like okay you know we

36:15

need we need cash that rewards

36:18

the upper the upper thinking cfl

36:20

i go out i d polarizing

36:23

messages and behaviors and that underestimate

36:25

and woods in or maybe maybe that that's not

36:27

a big if your have i was at his vows

36:29

billionaire i now i would spend that

36:33

dog but probably would look to

36:37

it has come out for good which obviously who am

36:39

to say that you look to go god

36:42

or bloomberg tried do because the only way you pour

36:44

money into

36:46

like that the broken systems is democracy

36:48

reform or your just straight up buying

36:50

senators and congressmen and women who

36:52

are right well i i i propose a

36:54

legislator liberation fun

36:57

with an hour and that we will fly you

36:59

out your down tried with the major party like

37:01

what did you spend the last cycle twenty

37:03

million you will give you that plus fifty

37:05

percent and thirty million dollars to

37:08

join this to be a rational him

37:10

being yada yada to be an independent

37:12

as actually you just go down the line

37:14

and by i actually believe not everyone i

37:16

prices out like you married

37:18

couple billion and it's less you

37:21

know something that my area you finish at

37:23

you you could buy out for us

37:25

senators their contracts with their with

37:28

their parties for less than two hundred million the

37:31

mean you're making a pitch how

37:33

about heard it is either the robots yeah

37:35

this is a real page this should be a bitch ah

37:37

it's a bitch

37:39

okay to i think said as bug as for i talked

37:41

to somebody used be very very senior the robot that

37:44

ah my former john wall street and

37:46

she asked oliver our

37:48

backline delegates small dinner having it

37:50

like if you get it had all the my in world

37:52

solves social problem would you do people like education

37:55

s and and then i forgot her like or would

37:57

you do said i would get it in cash and

37:59

use it to they are they bribe people

38:01

like most of the

38:03

world from there's a bay rum internationally but it's big

38:05

rally i said see where it's it's it's about the

38:07

money said it goes like that decisions

38:10

that are made by they help people her people are made

38:12

frankly for the highest bidder and learn

38:14

that we ran like him don't

38:16

get kidnapped armani game so many

38:19

i want to try and unlock

38:21

a critical mass of resources to do

38:23

what i'm describing now it's good fun

38:26

i'm enjoying it you know where the

38:28

worthy fight for our mean where were you

38:30

know where it where it where in the late seventy years

38:32

so know like bragging about

38:34

franken and your and your thing is thing guys

38:36

will unlock other like

38:39

it a maybe i don't know about that forward party

38:41

but i do believe in the ideas so here's a the

38:43

party competitor whatever like i'm sure you'll see that

38:46

nonsense to be that's good you're normalize what you're

38:48

talking about ideally well lineup but what the you

38:50

know am mean see like you said if you're a billionaire

38:52

let's say andrew ng with the billionaire or with

38:54

was by the way everyone knows mean it's like laughable

38:56

for the presley were available that would be

38:58

great stuff but like what i follow

39:01

a legislator liberation front sure

39:03

i know what i am when i go around and you can

39:05

do lotta good distraction and one of my frustrations

39:08

with couple of people who tiptoed this direction

39:10

so here the people ross perot

39:13

howard's holes mike bloomberg were

39:15

they when they did their thing and didn't

39:17

then turn around and invest in the deep

39:19

structural reform a

39:21

that pissed off india's

39:23

like look the process arcs get it i've

39:26

i've actually been through versions of it but

39:29

let's do the entrepreneur thing and like build

39:31

the alternative

39:33

and like build that the counter set of

39:35

incentives and you know that there

39:37

hasn't been that appetite but the appetites

39:39

returning because everyone sees how screwed up

39:41

the current system is so ,

39:43

that's at you know again we're bit

39:45

earlier in this conversation said look fourteen doing

39:48

as from within the system how much is getting spend to reform

39:50

the system know if you know spent

39:53

a billion dollars and from this is me dude tonic

39:55

good

39:56

so you see i think was on twitter i saw

39:58

it on twitter own of she did i the alive or something

40:00

but don't always go there and lot things but

40:04

he said something that resonate with me

40:06

that it's really really difficult to operate

40:09

a system that fundamentally corrupt

40:12

and it whether you know to series i could

40:14

go in congress and i'm going to shit the

40:16

asked and and i discovered do stuff

40:19

like a freaking off broadway later performer

40:21

which is like like i must become

40:24

a but this but this an argument that really

40:26

fueled the

40:28

the origin of afford party that are

40:30

ezra klein said toxic system's compromised

40:32

good individuals with he's now and

40:34

and remedies and he was making that argument

40:36

like a it is toxic system just

40:38

like you we had a clean the system up what

40:40

one of the fascinating elements like you know we other

40:43

you know we're going need money to clean the system up

40:45

so like i'm trying him righteous money

40:48

just one and and there actually are people

40:50

who i believe on the this category including

40:52

you know people are listening this have given us ten bucks mean

40:55

that's right of money where its minecraft grassroots

40:57

dollars you that you have right to that but

40:59

i will say are you allowed feel like if my

41:02

me out the internet i will say the o

41:04

algo where where were you need a combination of

41:06

like grassroots his mother so yeah you need more

41:08

than that they burnt a cop

41:10

bernie the king grassroots funding right what

41:13

he raised overall the elections

41:16

the water million all and maybe

41:19

probably been i don't know it was it other thing when

41:21

i'm i'm in one of my more controversial tweets or

41:23

whatever i was like when he should have started third party which i

41:25

by the way told group believe that are

41:27

you enter a lot of people who are part of bernie movement

41:29

who won him to yes and

41:31

i don't know why he didn't but

41:33

he would have posada

41:43

though we're going close this

41:46

combo on an uplifting note

41:48

so zack how's it been

41:51

being published author last couple weeks the

41:53

man i will say the

41:56

bigger dog whether the podcast looks

41:58

are interesting thing to be so

42:01

big i've met lot first time authors and worked

42:03

with you very closely when you are second time author

42:05

and frequency me a third and third other but i

42:07

was a a lot of people on opposite that

42:09

ambition and they're gonna sell like a book in a while

42:11

i dwell on firearm in york times bestseller

42:13

i know there's on those ambitions i

42:16

will say for those you who have lot

42:18

of you have reached out to me personally or on social

42:20

media saying i read book i love it that's

42:22

been nicer to hear a degree bug

42:24

if you haven't picked it up everyone long

42:27

shot

42:27

how political nobody's made andrea

42:29

president i'd stayed in

42:32

, upper upper upper upper up on horrible thing

42:34

that raise budget sounds like a by

42:36

to have research team hit edited actually

42:38

myself it also is more fun

42:41

and readable fun cinematic than

42:43

my book so as your his momma narrative were

42:45

trying to

42:46

the gonna make a movie out of it in a way yeah

42:48

so so if you wanted to see

42:50

it as the lego movie screenplay about like

42:52

that that

42:53

madcap yang campaign check

42:56

out long shot and all

42:58

as someone is written few books the

43:02

you might put myself in out of first book is like log

43:04

as long like you are have you vote

43:06

with what you produced and that people

43:08

you respect they say

43:10

to you like a good job and you're golden

43:12

the i've ever spent a lot i will now and people of

43:15

reddit i like interesting

43:17

really dry this like an outlaw telling

43:19

what i would tell you but i enjoyed let's get so

43:21

onto the topic it

43:23

is now the beginning of summer

43:25

and oh what content recommendations

43:27

zama content rags

43:30

from i have some

43:32

just finished the first part

43:34

of season four of strange thing

43:36

i got our by a us senator thanks death

43:39

i fucking i'm offended they get well

43:41

done and didn't love disease in whole

43:43

time little dramatic a

43:45

man they either they ended they watch news

43:47

one they ended it really well

43:49

on a closed a bunch of

43:51

a lot of not all them a lot of posts from the

43:53

first season like kind of stuff

43:55

been having to out i'm going to loved it

43:57

match your stranger things and

43:59

raise you

44:00

with the boy is the that three i

44:02

was yeah as good as it's

44:04

really good and boys get me the dark admit

44:06

up before definitive i did an ama

44:09

that why boys way all areas way

44:11

for those of you earn haven't heard the boys dot amazon

44:14

it's about

44:15

the forgive you had superheroes that

44:18

became if you had real superheroes

44:20

in the world of capitalism there's

44:22

a lot of an amputee going on i'm

44:24

like watchmen but a less that

44:26

is less dark than watch minutes or more realistic

44:28

i'm at i really want to integrate watch

44:31

out at that annoys check it out i'm

44:33

going go with couple deep cuts for

44:35

people out there man

44:37

i remember content also from amazon

44:39

prime if you like the boys

44:42

there an animated series called invincible

44:44

oh i say again that as i added

44:46

that has excellent a real it's really really good

44:50

right so have you know i'm in

44:52

like a seven ya know i'm

44:54

friends with is like the lead voice actor

44:56

in a revival invisibles degree

44:58

bringing show if you liked the boys and you want more

45:01

like that the invincibles in some

45:03

ways almost like an animated version of boys

45:05

also on amazon prime also super

45:07

enjoyable reacher oh

45:09

so angry sure the jack reacher think it's

45:11

called reacher but it's there's a giant blonde

45:13

dude now

45:14

tom cruise movie turn into a series or yes

45:17

so so is based on the series of books fred this

45:19

show is really fun and

45:21

watchable

45:23

so if you have amazon prime added

45:25

to the boys invincible and return

45:28

both really really

45:31

high quality my opinion really good watch it either

45:34

i finish ozark

45:36

get last season feel like allergies i've

45:38

always liked his maman laurel any

45:40

recounted to annoying to annoying shower but she

45:42

supposed be the

45:43

university god is really nice

45:46

have that's why or one of

45:48

the raptors come out a brownie access come a

45:50

brow allowed would come out about the i had

45:52

lot of people i am towns of you have already

45:54

know i have you got creative for the most

45:56

famous i am lot the

45:58

regret i'm already do

46:00

things right now marching the last

46:02

kingdom it on netflix now

46:06

which i've heard israeli good haven't got into it yet

46:08

i'm going to probably get into marble that's my brother wants

46:10

me getting to a or like disney plus

46:13

marvel series so that's what

46:15

they want division and loki ends

46:18

mixed bag honestly or the i've heard of i

46:21

was comic book knew growing up so i've seen all the marble

46:23

stuff okay and it's a mixed bag

46:25

you know lot but on

46:27

netflix on another deep cut

46:29

a that a i so it's funny

46:32

like was looking for stuff could watch with a my

46:34

my sons and it turns out that this was

46:36

too dark for them a a but

46:38

it's called arcane it's based

46:40

upon video game the

46:42

animated series and it's freaking excellent

46:44

i get my sweetheart deal at a younger mario's

46:47

body as they are looking for something could watch the family

46:49

had an ads are being me and evelyn watching it but

46:52

it is new a narrative

46:55

great characters arcane

46:58

if you like that kind

47:00

of thing is gonna kind gun animator

47:02

aka so carly my fiance

47:05

is obsessed obsessed

47:07

with the show gilmore girls so

47:10

i've

47:11

bin bag to watch the show many many times so

47:13

eventually caved now i use

47:15

it i like if you madam me of a big it is watch

47:17

gilmore girls and that is earned me

47:19

some point of i will say it's up the

47:22

action up at least it's usually as pretty witty

47:24

dialogue i'd argue lead actresses

47:27

are pretty talented i watch

47:29

a lot of gilmore girls and i don't have that are

47:31

of us but power of i want to say as little good man

47:33

was you know it is we'll get it generally feel

47:35

good what's funny get back it's shot

47:37

back when shows

47:39

were done like in studio you wouldn't binge

47:41

watch them you know said

47:43

the any was one hour episodes

47:46

twenty episodes of season two

47:48

the lot of it i mean i like wasn't as

47:50

of because i remember another saw

47:52

and that in amiel time but i like

47:54

it does times were simpler at a particular point

47:57

the yeah i will go back watch the o c

47:59

but imagine that was

48:00

the show that is it ok to the most my mind

48:02

with a simpler time his friends there

48:05

you go because i know like the

48:08

entire dating life in your

48:10

twenties in york city or whatever it's i

48:12

am i was watching that shit when i was in college

48:14

and i moved here and that was like that's what you

48:16

like your life going be like and it's only

48:18

not that simple simple

48:21

simpler times their direct folks was

48:24

a bulldog and i they need to

48:26

get out there and see top gun that repeat early early

48:28

garcia i've heard i've said it that

48:31

number friends be like token sick top and said

48:33

my family said pop and sick the fact

48:35

the fact that anyone could ever in same

48:38

sensei it's top that new top

48:40

gun is as good if not possibly

48:42

better than the original or may not be true

48:44

but fact that could say that sounded like

48:46

an idiot

48:48

it probably awesome it is your patriotic

48:50

duty to go out see top gun coming from

48:52

a guy who has not seen it yet but that's of mine

48:54

way to close them as any business this

48:57

episode let's get our summers

48:59

on and look think things

49:01

are challenging out there but just like look

49:03

outside looking your loved

49:05

ones faces you have have

49:08

is shining life is good

49:10

as the cannot enjoy it later l